On December 19 the European Investment Bank (EIB) signed an agreement with NIBULON on allocation of EUR 71 million. This is the first time in 25 years since Ukraine became independent, the EIB allocates money directly to Ukrainian company without guarantees of the state or banks, only under NIBULON’s financial commitment. It testifies the stable financial status of our company.
Under the agreement, the EIB provides some money to implement the company’s investment project and the rest is NIBULON’s capital. Although the agreement has been signed recently, NIBULON’s cooperation with the EU financial institution began in July. So we can state that construction of a new elevator complex in Svatove town (Luhansk region) has been already finished as part of this cooperation; the facilities of NIBULON shipbuilding and repair yard are being modernized; household building was reconstructed, resulting in 100 additional places at the locker room on the first floor and the complex of technical facilities for newly created services of the shipping company (diving station, rescue and fire-fighting equipment maintenance equipment services); we have started to construct the 121M project tugs and launched 4 non-self-propelled vessels.  
In particular, since July till the end of the year NIBULON shipbuilding and repair yard launched the fourth (the last one of the series) non-self-propelled NBL-91 project vessel (August 31) and three non-self-propelled B2000 project vessels (in September, October, December) designed for operation on the main waterway of Mykolaiv region – on the Southern Buh River – as part of the cooperation with the EIB.  
The launching of the fifth non-self-propelled B2000 project vessel that took place on December 22 became another victory of the shipyard.  Since new vessels launching became an ordinary affair for the team, so, for the sake of effective use of time, these events usually take place in working order, but all the traditions and customs are observed.
Natalia Tsyhankova, an electrician on electrical equipment repair and maintenance, who has devoted 24 years to shipbuilding industry, became the godmother of the vessel launched last week. Natalia and her colleagues have been responsible for electrical equipment for 3 years, including maintenance of electric cranes and other electrical equipment being used while constructing vessels at NIBULON shipbuilding and repair yard.
“The new vessel is another victory as everyone of us puts his/her heart into construction. We are working and are ready to work for the benefit of the shipyard and the company as a whole”, noted godmother Natalia.
It should be noted that the loan of EUR 71 million, allocated by the EIB, will allow us to form a package of the company’s investments of USD 200 million. The money is aimed at financing NIBULON’s investment project “Development and reconstruction of elevators (construction and equipping the grain storage facilities), construction of transshipment and logistics terminals (construction of tugs) in Ukraine” which will be implemented within 2-3 years. As part of this programme the company will build up to 10 high tech elevator complexes, including the ones along the Dnipro River and the Southern Buh River. Two elevator complexes will be built in Kherson and Zaporizhzhia regions in the first half of 2017.  Moreover, due to cooperation with the EIB, according to the shipyard’s director Dmytro Horbenko, the shipyard has a heavy orders book for the next two years.
We are constructing modernized tugs, along with the construction of non-self-propelled vessels. We plan to build 3 complete pusher tugs of modernized 121M project and put them into operation in May-June 2017 (this will be the second triple of 121 project tugs built at our shipyard). Besides vessels launching, the construction of the series of non-self-propelled B2000 project  vessels will be finished next year. It is expected that they will be put into operation in March, November, and December.  We have ordered metal to construct a dredger “Mykolaivets” which will be launched in August next year. A high-capacity Volvo hydraulic excavator was purchased for it and has already managed to show its capacities during the construction process of “Voznesens’ka” branch. This will be a self-propelled vessel with the capacity to dredge the reservoir up to 15m. We also plan to launch a new crane in November 2017.
As part of the cooperation with the EIB, the modernization of the facilities of the shipyard is in full swing. As the Deputy Director of NIBULON shipbuilding and repair yard on production Volodymyr Zhmur said, the first and the biggest step has been taken – construction of a metal processing workshop with CNC plasma cutting and gas cutting machine, with the maximum thickness of cut of 75 and 300 mm, and area of almost 2,100 m2 is ready; the necessary equipment has been ordered. Seven contracting organizations are working in 2 shifts to reconstruct the workshop and in order to prepare the facility for operation in time, and set up the equipment in February. It should be noted that modernizing the shipyard, NIBULON employs about 250 people in such a difficult period for Ukraine.  
The next stage of modernization provides for construction of fabrication workshop for special orders with 2,600 m2 area, enhancing capacities of crane facilities by placing additional portal crane with the capacity of 32 tons, replacing the portal cranes by new ones with the capacity of up to 35 tons. 
Implementation of the investment project is strategic not only for NIBULON but also for development of the country. Moreover, it will improve the quality of life for Ukrainian citizens. Once again we express our gratitude to the European Union and the European Investment Bank for cooperation and opportunities for development of the economy of Ukraine.